In a recent development, Panasonic Holdings of Japan has announced its decision to divest its entire stake in Panasonic Automotive Systems (PAS) to investment funds managed by U.S.-based private equity firm Apollo Global Management. As part of this transaction, Panasonic will also invest in the new holding entity created through this deal.
The total enterprise value of this transaction is estimated at 311 billion yen ($2.06 billion), with final adjustments expected to be made at the closing, scheduled by the end of the first quarter of 2025, as stated by Apollo in a press release. Furthermore, Panasonic disclosed its plans to acquire a 20% stake in Star Japan Holdings, the entity that will assume ownership of the new parent company of PAS.
Despite this change in ownership, the automotive business will continue to maintain its strategic alliance with the Panasonic Group, Apollo emphasized. Panasonic has indicated previously that there is a possibility of the automotive business being listed as a separate entity in the future.
Concurrently, the company also revealed that its subsidiary, Blue Yonder, is set to acquire One Network Enterprises, a U.S.-based digital supply chain network supplier, for a substantial sum of $839 million. This acquisition is anticipated to be finalized during the July-September quarter of 2024, according to the company
Panasonic Corporation, headquartered in Osaka, Japan, is a multinational electronics corporation that manufactures and sells a wide range of products, including consumer electronics, home appliances, automotive components, and industrial equipment. Founded in 1918 by Konosuke Matsushita, the company has grown to become one of the largest electronics companies in the world.
The company’s product lineup includes televisions, cameras, audio equipment, home appliances such as refrigerators and washing machines, and automotive components like car audio systems and batteries. The company is also involved in the development of eco-friendly technologies, including solar panels and energy storage solutions.
